Covestor Ltd Buys 111 Shares of Itron, Inc. (NASDAQ:ITRI)

Covestor Ltd increased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 26.1% in the third quarter, HoldingsChannel reports. The firm owned 536 shares of the scientific and technical instruments company’s stock after buying an additional 111 shares during the period. Covestor Ltd’s holdings in Itron were worth $57,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITRI. Janney Montgomery Scott LLC bought a new position in Itron during the first quarter worth about $346,000. Oppenheimer Asset Management Inc. acquired a new stake in Itron during the first quarter worth approximately $205,000. Swiss National Bank lifted its position in Itron by 0.3% during the first quarter. Swiss National Bank now owns 89,800 shares of the scientific and technical instruments company’s stock worth $8,308,000 after acquiring an additional 300 shares during the last quarter. ProShare Advisors LLC lifted its position in Itron by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,185 shares of the scientific and technical instruments company’s stock worth $850,000 after acquiring an additional 632 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Itron by 113.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company’s stock worth $2,867,000 after acquiring an additional 16,441 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Stock Down 1.4 %

Shares of ITRI opened at $117.59 on Friday. Itron, Inc. has a one year low of $64.96 and a one year high of $124.90. The company has a market cap of $5.30 billion, a P/E ratio of 24.10, a P/E/G ratio of 0.91 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The firm has a 50 day simple moving average of $107.11 and a two-hundred day simple moving average of $104.22.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same period in the previous year, the business earned $0.98 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The trade was a 20.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,517,947 over the last three months. Corporate insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ITRI shares. TD Cowen raised their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BNP Paribas started coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company. Robert W. Baird raised their price objective on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research report on Monday, August 5th. Finally, Roth Mkm lifted their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.